The tech-rich Nasdaq Composite slipped 5.51 (0.17 percent) to 3,186.49, dragged down by Apple, the biggest tech stock, which lost 2.5 percent.

“Investors appeared content to wade in calm waters ahead of President Obama’s State of the Union Address tonight, as the broader markets finished the day near the flatline,” Charles Schwab & Co. said in a market note.

“But the blue-chip Dow got a boost from strength in financials and industrials.”

Investors will be watching Obama’s nationally televised speech at 9:00 pm (0200 GMT Wednesday) to gauge “content and tone as a guide for assessing the likelihood of avoiding sequestration slated to go into effect March 1,” said Patrick O’Hare of Briefing.com.

Dow gainers were led by Bank of America, up a hefty 3.3 percent, and Alcoa, up 1.8 percent, while Home Depot rose 1.4 percent after saying it was switching from the BlackBerry smartphone to Apple’s iPhone. BlackBerry dived 3.4 percent.

US Airways fell 1.3 percent amid speculation on its proposed merger with AMR Corp.’s bankrupt American Airlines to create the biggest US airline. The Wall Street Journal reported the boards of the two companies were set to meet Wednesday, with an announcement possible by Thursday.